Citigroup Inc. Trims Honeywell International Inc. (HON) Target Price to $128.00
Honeywell International Inc. (NYSE:HON) had its price target lowered by equities researchers at Citigroup Inc. from $131.25 to $128.00 in a report issued on Monday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 19.69% from the company’s previous close.
Several other analysts also recently weighed in on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Honeywell International in a research report on Monday, June 27th. Bank of America Corp. set a $132.00 target price on Honeywell International and gave the company a “buy” rating in a research report on Monday, July 25th. Morgan Stanley reiterated a “buy” rating and issued a $127.00 target price on shares of Honeywell International in a research report on Tuesday, September 6th. Credit Suisse Group AG reiterated a “hold” rating and issued a $113.35 target price on shares of Honeywell International in a research report on Friday. Finally, Zacks Investment Research downgraded Honeywell International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Honeywell International presently has an average rating of “Buy” and an average target price of $122.95.
Honeywell International (NYSE:HON) traded up 0.1956% during trading on Monday, hitting $107.1492. The stock had a trading volume of 5,760,462 shares. The firm has a market capitalization of $81.53 billion, a P/E ratio of 16.9513 and a beta of 1.05. Honeywell International has a one year low of $93.71 and a one year high of $120.02. The stock has a 50 day moving average of $115.34 and a 200 day moving average of $115.12.
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Honeywell International (NYSE:HON) last announced its quarterly earnings data on Friday, July 22nd. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The business earned $9.78 billion during the quarter, compared to the consensus estimate of $10.13 billion. During the same period in the prior year, the company earned $1.51 EPS. Honeywell International’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts expect that Honeywell International will post $6.68 earnings per share for the current fiscal year.
In other news, CEO David M. Cote sold 534,505 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $116.15, for a total value of $62,082,755.75. Following the transaction, the chief executive officer now owns 700,000 shares in the company, valued at $81,305,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy O. Mahoney sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $116.29, for a total value of $69,774.00. Following the completion of the transaction, the insider now owns 68,398 shares in the company, valued at approximately $7,954,003.42. The disclosure for this sale can be found here. 1.83% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of HON. WASHINGTON TRUST Co raised its position in Honeywell International by 10.8% in the first quarter. WASHINGTON TRUST Co now owns 4,033 shares of the company’s stock worth $452,000 after buying an additional 394 shares in the last quarter. Icon Advisers Inc. Co. raised its position in Honeywell International by 25.9% in the first quarter. Icon Advisers Inc. Co. now owns 91,540 shares of the company’s stock worth $10,257,000 after buying an additional 18,840 shares in the last quarter. Brick & Kyle Associates raised its stake in shares of Honeywell International by 1.5% in the first quarter. Brick & Kyle Associates now owns 6,559 shares of the company’s stock worth $735,000 after buying an additional 100 shares during the period. CIBC World Markets Inc. raised its stake in shares of Honeywell International by 23.4% in the first quarter. CIBC World Markets Inc. now owns 11,566 shares of the company’s stock worth $1,296,000 after buying an additional 2,190 shares during the period. Finally, Addenda Capital Inc. raised its stake in shares of Honeywell International by 0.3% in the first quarter. Addenda Capital Inc. now owns 56,104 shares of the company’s stock worth $6,285,000 after buying an additional 166 shares during the period. Institutional investors own 76.50% of the company’s stock.
About Honeywell International
Honeywell International Inc (Honeywell) is a technology and manufacturing company. The Company operates in three segments: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT). Its Aerospace segment supplies aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers, airlines, aircraft operators, military services, and defense and space contractors.
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